"With the bank on-boarding corporate customers on the basis of a well-defined target market and retail customers on a score-based approach, the credit quality of recently acquired portfolio has shown distinct improvement as measured by credit score external ratings available with credit rating agencies," Bank of Baroda said in a statement.

Provision for bad loans was at Rs 3,416 crore in Q3, up from Rs 3,155 crore in the year ago period.

Gross non-performing assets (NPA) ratio stood at 11.01 percent for Q3FY19 compared to 11.31 percent a year ago, and 11.78 percent in the September quarter.

Net NPA ratio declined to 4.26 percent in Q3Fy19 compared to 4.97 percent a year ago and 4.86 percent in the September quarter.

At 09:30 hrs Bank Of Baroda was quoting at Rs 116.60, up Rs 2.75, or 2.42 percent, on the BSE.